BRF’s takeover of the Kent-based company was officially confirmed on Monday 1 February 2016.
The deal was first reported by GlobalMeatNews on 3 December, but despite BRF confirming it was “100% sure” the deal would be completed, no official announcement was made until the beginning of this month.
The acquisition is part of the Brazilian firm’s global expansion. In December, BRF completed the takeover of Golden Food Siam in Thailand for $360m and confirmed it was “attentive to new investment” – possibly a subtle reference to its interest in Argentinian company Campo Austral.
“The transaction is in line with the strategic plan to globalise the company, accessing local markets, strengthening the brands of BRF, distributing and expanding its product portfolio around the world,” said Augusto Ribeiro, chief financial officer at BRF in a press statement.